International Assets Investment Management LLC Sells 750 Shares of Costco Wholesale Corporation $COST

Key Points

• International Assets Investment Management LLC reduced its stake in Costco Wholesale by 8.4%, selling 750 shares to hold a total of 8,205 shares valued at approximately $8.12 million.
• Costco Wholesale's stock recently opened at $936.33 and has a market capitalization of $414.96 billion, with a P/E ratio of 51.42 and a dividend yield of 0.6%.
• Following its latest earnings report, which beat analyst estimates, Costco announced a quarterly dividend of $1.30 per share payable on November 14th.

International Assets Investment Management LLC trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,205 shares of the retailer's stock after selling 750 shares during the period. International Assets Investment Management LLC's holdings in Costco Wholesale were worth $8,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COST. Nuveen LLC bought a new position in Costco Wholesale during the first quarter valued at approximately $3,461,159,000. Kingstone Capital Partners Texas LLC grew its holdings in shares of Costco Wholesale by 418,980.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer's stock worth $2,335,686,000 after purchasing an additional 2,358,859 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. National Bank of Canada FI boosted its holdings in Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock valued at $768,114,000 after acquiring an additional 370,806 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Costco Wholesale by 2,369.5% in the second quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer's stock valued at $320,036,000 after acquiring an additional 310,197 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COST shares. DA Davidson reaffirmed a "neutral" rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, September 26th. Truist Financial decreased their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research report on Friday, September 26th. Daiwa Capital Markets decreased their target price on Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. BTIG Research assumed coverage on Costco Wholesale in a research report on Tuesday. They issued a "buy" rating and a $1,115.00 target price for the company. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,068.15.

Costco Wholesale Trading Up 1.2%

Costco Wholesale stock opened at $936.33 on Friday. The business has a 50-day simple moving average of $949.51 and a two-hundred day simple moving average of $971.53. The company has a market cap of $414.96 billion, a P/E ratio of 51.42, a P/E/G ratio of 5.68 and a beta of 0.98. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.15 EPS. Analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's payout ratio is 28.56%.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares of the company's stock, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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